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The German economic crisis is a significant downturn of Germany's economy that marked a dramatic reversal of its previous "labour market miracle" period of 2005–2019. The country, which had been considered to be Europe's economic powerhouse in prior decades, became the worst-performing major economy globally in 2023 with a 0.3% contraction, followed by minimal growth in 2024 leaning on ...
Danish state bankruptcy of 1813. [2] Kingdom of France: 1788: On 17 August 1788, the royal treasury began paying creditors in IOUs rather than money after service on debt (mainly from the Seven Years' War and American War of Independence) had depleted the royal treasury to just 400,000 livres (one day's worth of state expenses).
Germans will go to the polls after Chancellor Olaf Scholz's three-way coalition collapsed last month, likely spelling the end for Germany's most unpopular leader in modern times and the return to ...
BERLIN (Reuters) -Chancellor Olaf Scholz will call on Germany's parliament on Monday to declare it has no confidence in him, taking the first formal step towards securing an early national ...
Germany would relax insolvency rules under proposals set out on Saturday to help avert a wave of bankruptcies in Europe's biggest economy, provided companies hit by the coronavirus crisis have a ...
The Greek GDP had its worst decline in 2011 with −6.9%, [50] a year where the seasonal adjusted industrial output ended 28.4% lower than in 2005, [51] [52] and with 111,000 Greek companies going bankrupt (27% higher than in 2010).
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
To hear Hartmut Issmer tell it, Germany's recent history is one of decline from the 1970s to 2015, when then-Chancellor Angela Merkel let the migrants in. The construction engineer, who grew rich ...